We would like to hear about your business and what you would like to accomplish, what you are currently using, etc.
We strive for a “good fit” to be sure our services are right for your business.
As mentioned, we only work with businesses that are delivering a service and not using raw materials to sell a finished item or buying products strictly for resale. This adds an inventory component.
Some examples of our clients are owners of fitness facilities, artists, physicians, consultants, etc.
After our phone call and if we agree that Contact Point Accounting will be able to help you, we move forward to an Evaluation.
First, we will send you a signed Confidentiality Agreement. Then we will ask to review your current accounting data file (if one is available), and the most recent 3 months statements of all business bank accounts, credit lines and payroll.
You will receive a written report which will show what is working with your accounting system and areas that need to be streamlined, and how we can help with that.
We will also look for ways that data can be imported into an accounting system such as QuickBooks if that is what you would like to use.
We work together
This is where we set up the system. You may receive some “homework”. This most often consists of placing a call to your financial institutions and ask to set up an authorized user to “View and Download only”. Some banks know of this feature as “Accountants Rights”. Again, the purpose is to view and download, not to make any transactions. It allows us to import data into the accounting system.
Also, when necessary, we will set up an Accounts Payable / Accounts Receivable system.
We see how everything works and make any adjustments as needed.
You now have an Accounting Department
Things will be running smoothly as we learn about your business. We will have questions about how to classify some transactions and those questions will decrease as time moves along.
You will receive valuable information as to how your business is performing, (i.e. the Fundamentals) – Profit / Loss Statement, Balance Sheet, and Statement of Cashflows on at least a monthly basis.